Umm Al-Qura Cement inks SAR 32 mln deal with China’s CNBM to operate Portland line

Umm Al-Qura Cement Co. said it has signed a SAR 32 million contract with China’s CNBM International Engineering Co. Ltd. to operate a Portland cement line.

The cement producer said in a statement to Tadawul on Monday that the deal value, which is part of the project operating costs, includes commissioning and the first year of operation and will be financed through the company’s internal resources.

Payment installments will begin as of the fourth quarter.

The contract will be valid only through the first year of operation.